Huffington Post - 01/01/2013
WASHINGTON -- A day late and trillions of dollars short, Congress passed a hard-won deal to ease large portions of the "fiscal cliff."
The nation started sliding down that cliff on New Year's Day, after lawmakers dithered for more than a year over solving the combination of across-the-board spending cuts and tax hikes that began taking effect with the start of the year.
The Senate passed a compromise at 2 a.m. Tuesday. The House threatened to blow up the deal, but reluctantly followed suit 20 hours later, ultimately passing a permanent extension of many Bush-era tax cuts by an overwhelming vote of 257 to 167.